Betex Senior Staff Members Detained By Chinese Authorities

Asian-facing betting and gaming company Betex has said two of its senior staff at its Beijing operation have been detained and a third is being sought by the Chinese authorities in the province of Jilin.

In a statement to the London Stock Exchange, the company said it believes the alleged illegal activity related to conduct by these individuals and “does not call into question the legality of the company’s software product, or the conduct of the company”.

The company said it was working with its legal advisers to obtain information regarding the status of the investigation and is assisting the authorities wherever possible.

The statement added: “While the investigation is ongoing the company has voluntarily imposed a nationwide suspension of sales of its software product.”

Betex has contracts to supply football-based lottery products to a number of Chinese provinces. The company has temporarily suspended its shares.